Alcoa Corporation (NYSE: AA), a global leader in bauxite, alumina and aluminum products, today announced that members of the United Steelworkers (USW) have ratified a new labor agreement, covering approximately 1,700 active employees at five U.S. locations.
The Company and the union leadership tentatively agreed on August 30 to the terms of the four-year contract, subject to ratification by the union’s members. The USW announced the outcome of that vote on Thursday, Sept. 19.
The new agreement, which is now in effect, covers employees represented by the USW at Warrick Operations in Indiana, Massena Operations in New York, Gum Springs in Arkansas, Wenatchee Works in Washington, and Point Comfort in Texas.
“We appreciate the contributions from our union employees at each of these locations,” said Leigh Ann Fisher, Executive Vice President and Chief Administrative Officer. “We are pleased to have in place an agreement that will position our Company and employees for future success.”
Alcoa expects additional operating expenses only in the third quarter of 2019 of approximately $10 million (pre- and after-tax), or $0.05 per share, related to the ratification of the agreement.
